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Earnings per Share
 6 Months Ended
Apr. 30, 2024
Earnings per Share [Abstract]  
Earnings per Share
NOTE 18: EARNINGS PER SHARE
Basic earnings per share is calculated by
 
dividing net income attributable to common
 
shareholders by the weighted-average number
 
of common shares
outstanding for the period.
 
Diluted earnings per share is calculated using
 
the same method as basic earnings per
 
share except that certain adjustments are
 
made to net income
attributable to common shareholders and
 
the weighted-average number of shares outstanding
 
for the effects of all dilutive potential common
 
shares that are
assumed to be issued by the Bank.
 
The following table presents the Bank’s basic and
 
diluted earnings per share for the three and
 
six months ended April 30, 2024 and April 30,
 
2023.
Basic and Diluted Earnings Per Share
1
(millions of Canadian dollars, except
 
as noted)
For the three months ended
For the six months ended
April 30
April 30
April 30
April 30
2024
2023
2024
2023
Basic earnings per share
Net income attributable to common shareholders
$
2,374
$
3,096
$
5,124
$
4,594
Weighted-average number of common shares outstanding
 
(millions)
1,762.8
1,828.3
1,769.8
1,824.4
Basic earnings per share
(Canadian dollars)
$
1.35
$
1.69
$
2.90
$
2.52
Diluted earnings per share
Net income attributable to common shareholders
 
$
2,374
$
3,096
$
5,124
$
4,594
Net income available to common shareholders
 
including impact of dilutive securities
2,374
3,096
5,124
4,594
Weighted-average number of common shares outstanding
 
(millions)
1,762.8
1,828.3
1,769.8
1,824.4
Effect of dilutive securities
Stock options potentially exercisable (millions)
2
1.3
2.0
1.4
2.2
Weighted-average number of common shares outstanding
 
– diluted (millions)
1,764.1
1,830.3
1,771.2
1,826.6
Diluted earnings per share
(Canadian dollars)
2
$
1.35
$
1.69
$
2.89
$
2.52
Amounts for the three and six months ended April 30, 2023 have been restated for the adoption of IFRS 17. Refer
 
to Note 2 for details.
2
 
For the three and six months ended April 30, 2024, the computation of diluted earnings per share excluded average
 
options outstanding of
7.3
 
million and
6.7
 
million, respectively, with a
weighted-average exercise price of $
89.14
 
and $
89.93
, respectively, as the option price was greater than
 
the average market price of the Bank’s common shares. For the three and six
months ended April 30, 2023, the computation of diluted earnings per share excluded average options outstanding
 
of
4.9
 
million and
4.2
 
million, respectively, with a weighted-average
exercise price of $
92.89
 
and $
93.29
, respectively, as the option price was greater
 
than the average market price of the Bank’s common shares.